Pennon Backs Annual Performance, Says It Is Well Placed for Funding Investments

Dow Jones

2025/03/31

By Michael Susin

Pennon said its performance for fiscal 2025 remains in line with the board's expectations.

The U.K. water utility on Monday said that it continues to expect earnings before interest, taxes, depreciation and amortization to be broadly flat from the first half to the second half ending March 31, with lower customer demand and inflationary cost pressures offset by its turnaround program. Capital expenditure remains similar to the first half.

The company said a new package of around 200 million-pound ($258.8 million) customer affordability support was secured from fiscal 2026.

Pennon added that it remains well placed for funding a record investment program after raising 1.3 billion pounds via rights issue, public bonds, private placements and other opportunities.

Write to Michael Susin at michael.susin@wsj.com

(END) Dow Jones Newswires

March 31, 2025 02:43 ET (06:43 GMT)

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